Silver remains in a steep multi-week downtrend, printing fresh 2026 lows almost every session as the hawkish-Fed repricing and USD at one-year highs unwind the precious-metals rally. This week's collapse from ~$65 through $58 stalled at $57.66 after in-line core PCE (3.4% y/y) removed fresh downside fuel, with daily RSI near 27 flagging stretched oversold conditions. The seven-month low at 55.63 is the next reference below; the 62.89 area is a mean-reversion magnet on any corrective bounce.
Support: 55.63
Resistance: 62.89
What it said to watch
Loss of the 55.63 seven-month low opens deeper losses
Daily close back above the 62.89 mean magnet would ease the oversold downtrend read
UoM inflation expectations Fri 14:00 UTC (1yr f/c 4.6%) could reinforce or relieve the hawkish-Fed bid
Silver has collapsed roughly 18% YTD, accelerating this week from ~$65 through $60 and into the high-$56s as a hawkish-Fed repricing drove the USD to one-year highs; in-line PCE only let the slide pause. Price sits far below a falling EM(50) with daily RSI near 28 — genuinely stretched and printing fresh 2026 lows at $55.63. Each session has closed near its lows, with the $60 round number now overhead as the first mean-reversion barrier toward the $62.89 9-day EMA magnet.
Support: 55.63
Resistance: 62.89
What it said to watch
Loss of $55.63 confirms continuation toward deeper losses
Daily close back above $60 would ease the oversold breakdown read
UoM Michigan inflation expectations (Fri 14:00 UTC) plus Williams/Kashkari speakers could materially shift this read